Pune: Kothrud Man Duped of Rs 29.40 Lakh in Stock Market Investment Fraud

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Pune, 13th January 2025: Cyber thieves have duped a person from Pune of Rs 29.40 lakh by promising double to triple returns on investment in the stock market within a short period. A 53-year-old man has filed a complaint at the Kothrud Police Station regarding this incident.

According to the police, the complainant lives in a housing society in Kothrud. On 16th August, the cyber thief, pretending to be a representative of a well-known company, sent a message to the complainant’s mobile phone promising good returns on stock market investments. The fraudster sent the complainant a link to join a WhatsApp group and asked him to create an account. Following that, the thief instructed the complainant to deposit money into different bank accounts for stock market investments.

Falling for the bait, the complainant deposited a total of Rs 29.40 lakh into the cyber thieves’ bank accounts between August and October 2024. However, the thieves did not provide any returns on the investment.

After realizing he had been cheated, the complainant filed a complaint at the police station on 12th January 2025. Police Inspector (Crime) Vikram Singh Kadam is conducting further investigation into the case.